Live cattle futures saw losses of 45 cents to $1.55 in the front months, as back months were 12 cents to $1.10 higher. Preliminary open interest was down 9,469 contracts on Tuesday, with the bulk in the nearbys, suggesting long liquidation. Cash trade has yet to get kicked off on Monday, with last week at $239-240 in the South, with Northern sales of $237-238.
Feeder cattle futures pushed higher on Tuesday, with gains anywhere from 77 cents to $3.82 in some back months. The CME Feeder Cattle Index was back down $2.32 at $361.10 on September 22. The weekly OKC feeder cattle auction saw 4,420 head sold, with feeder steers steady to $5 higher, with heifers up $2-6. Calves were up $10-20 for steers and $15-25 for heifers.
